Transaction Details

Par Amount:

$8,590,309

Interest Rate:

6.625%

Closing Date:

July 30, 2026

Debt Structure:

Capital Appreciation Bonds

Pledged Revenue:

Proceeds from the sale of bonds from Montgomery County Municipal Utility District No. 238

Use of Proceeds:

Reimbursement of eligible public improvements and refunding of existing Series 2026 Bonds

McCrorey Trails and Castle's Edge

Montgomery County

  • The Castle’s Edge and McCrorey Trails projects are adjacent single-family home communities located in unincorporated Montgomery County, approximately 11 miles north of Conroe and 53 miles north of downtown Houston. The Projects are being developed by Ellison Development.
  • The Projects are anticipated to include 724 single-family detached residences, parks, and trails.
  • At the time of issuance:
    • 37% of the total lots were finished and 40% of the total lots were under horizontal development.
    • 77% of the total lots were under contract to DR Horton.
    • 20% of the total lots had homes built and 8% of the total lots had homes under construction.
    • 67% of the total reimbursable budget had been spent with $8.2M of reimbursable costs outstanding to the Developer.